Principal Subsidiary definition

Principal Subsidiary means at any relevant time a Subsidiary of the Issuer:

Principal Subsidiary means any Subsidiary of the Borrower that owns a Vessel.

Principal Subsidiary means any Subsidiary of the Issuer:

Examples of Principal Subsidiary in a sentence

• Cross-acceleration: The Conditions will contain a cross-acceleration provision as described in Condition 13(c) (Events of Default—Cross-acceleration of Issuer or Principal Subsidiary).

• Upon the Company or any Principal Subsidiary becoming aware of the occurrence of an Event of Default with respect to this Note or any other Notes, the Company shall immediately deliver a written notice thereof via facsimile, overnight courier or e-mail transmission to the Holder (a “Default Notice”).

• A certificate of two Directors of the Issuer that in their opinion a Subsidiary of the Issuer is or is not or was or was not at any particular time or throughout any specified period a Principal Subsidiary, shall, in the absence of manifest error, be conclusive and binding on all parties.

• Dividend protection Investor protection in the form of Conversion Price adjustment in respect of all dividends and distributions Events of Default Yes, in line with standard provisions, including: (i) if the Issuer defaults on its payment or other obligations under the Bonds; and (ii) liquidation of the Issuer or any Principal Subsidiary, except where all or part of the undertaking and assets of a Principal Subsidiary are transferred to the Issuer or another Subsidiary of the Issuer.

• Such participation shall be subject to (i) the terms of the applicable plan documents, (ii) generally applicable policies of the Company or the Principal Subsidiary, as applicable and (iii) applicable law.

More Definitions of Principal Subsidiary

Principal Subsidiary means, at any time, any Subsidiary of the Company (other than a Project Financing Subsidiary) either (a) having assets that are, or owning Subsidiaries with assets that together with its assets are, at such time greater than or equal to 5% of the consolidated assets of the Company and its consolidated Subsidiaries at such time or (b) constituting a Borrowing Subsidiary.

Principal Subsidiary at any time shall mean a Subsidiary of the Issuer inter alia:

Principal Subsidiary means any Subsidiary of the Company which owns a Principal Property.

Principal Subsidiary means, as of any date, any Subsidiary (including any successor Person of such Subsidiary) that (a) accounts for greater than 5% of the consolidated total assets of the Parent Guarantor and its Subsidiaries as of such date, determined in accordance with U.S. GAAP, or (b) accounted for greater than 5% of the consolidated revenues of the Parent Guarantor and its Subsidiaries for the immediately preceding financial year of the Parent Guarantor, determined in accordance with U.S. GAAP.

Principal Subsidiary means at any time a Subsidiary of the Guarantor:

Principal Subsidiary means any Subsidiary of the Bank: (i) whose assets from time to time represent not less than 15 per cent. of the consolidated assets of the Bank, or whose revenues from time to time represent not less than 15 per cent. of the consolidated revenues of the Bank, as shown in the Bank's most recent audited consolidated annual financial statements (or, if more recent, consolidated interim financial statements); or (ii) to which is transferred all or substantially all of the assets and undertakings of a Subsidiary which immediately prior to such transfer is a Principal Subsidiary;

Principal Subsidiary means any Consolidated Subsidiary of the Company, (i) whose net sales as shown by the annual non-consolidated financial statements (or, where the Consolidated Subsidiary in question itself prepares consolidated financial statements, the annual consolidated financial statements) of such Consolidated Subsidiary used for the purposes of the latest audited annual Consolidated Financial Statements being made up, are 10 per cent. or more of the net sales of the Company and its Consolidated Subsidiaries as shown by such audited annual Consolidated Financial Statements or (ii) whose total assets as shown by the annual non-consolidated financial statements (or, as the case may be, the annual consolidated financial statements) of such Consolidated Subsidiary used for the purposes of the latest audited annual Consolidated Financial Statements being made up, are 10 per cent. or more of the total assets of the Company and its Consolidated Subsidiaries as shown by such audited annual Consolidated Financial Statements. A certificate signed by a Representative Director or an Authorised Officer of the Company that in the Company’s opinion, a Consolidated Subsidiary is or is not or was or was not at a specified date a Principal Subsidiary shall, in the absence of manifest error, be conclusive and binding on all parties;